{
  "id": 16931315,
  "title": "FG pays N1.23tn of N3.3tn GenCos debt — Minister",
  "url": "https://urgent.news/2026/10/28/fg-pays-n1-23tn-of-n3-3tn-gencos-debt-minister-16931315",
  "topic": "world",
  "section": "World",
  "published": "2026-10-28T17:30:51.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/fg-pays-n1-23tn-of-n3-3tn-gencos-debt-minister/"
  },
  "original_language": "en",
  "account": "The Federal Government has paid N1.23tn of the N3.3tn debt owed to gas suppliers, according to Power Minister Joseph Tegbe. The announcement came after a Federal Executive Council meeting led by President Bola Tinubu. Tegbe made the disclosure during a briefing to State House correspondents. He explained that the payment was part of ongoing efforts to address liquidity and debt challenges in the power sector, which had affected the supply of feedstock gas to generation companies. The minister emphasized that the debt payments were a crucial step towards resolving supply issues. In addition to debt relief, the government is focusing on optimizing existing assets and enhancing long-term resilience in the national grid through targeted investments in transmission infrastructure. President Tinubu's reforms are also aimed at boosting sugar self-sufficiency. Plans are under way to expand transmission capacity from the current 5,000 megawatts to approximately 19,000 megawatts, marking a significant effort to strengthen the grid's resilience.",
  "summary": "The Federal Government has paid N1.23tn out of the N3.3tn debt owed to Generation Companies, the Minister of Power, Joseph Tegbe, has disclosed. Read More: https://punchng.com/fg-pays-n1-23tn-of-n3-3tn-gencos-debt-minister/",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}